Freddie Mac Economist Visits Merage School

Frank E. Nothaft

Frank E. Nothaft, chief economist for Freddie Mac, made an appearance at The Paul Merage School of Business in March to give members of the Center for Real Estate an update on housing and the mortgage market. Nothaft emphasized how low mortgage rates are supporting a gradual uptick in sales of housing. He also pointed out that while housing prices are down 25 to 30 percent we are nearing the bottom and U.S. house price indexes will likely bottom out in 2012. Unsold inventory in Orange and Los Angeles Counties, however, remains above the California average. Nothaft did note that the economy is gradually strengthening and that we can expect 2.3 percent to 2.7 percent growth in real GDP this year.

Nothaft's presentation was part of a special meeting for board members and friends of the Center for Real Estate at The Paul Merage School of Business. For more information about the Center for Real Estate, visit merage.uci.edu/go/cre.